Michael Don owns an equipment hire business under the name Safety Hire. Financial data for Safety Hire as of 30 June 2019 are shown as below:.

Account Balance ($)
Accounts receivable 73,000
Wages expense 78,000
Equipment hire income 200,000
Advertising expense 32,000
Prepaid insurance 9,000
Accounts payable 88,000
Insurance expense 7,000
Cash at bank 48,000
Equipment 190,000
Michael Don, capital ?

Required:

a) Prepare an income statement for the business for the year ending 30 June 2019.
b) Prepare a balance sheet in narrative format for Safety Hire as at 30 June 2019.
c) Prepare a statement of changes in Equity for the year and determine Michael Don’s capital at 30 June 2018?

Click on Buy Solution and make payment. All prices shown above are in USD. Payment supported in all currencies. Price shown above includes the solution of all questions mentioned on this page. Please note that our prices are fixed (do not bargain).

After making payment, solution is sent within 2 to 5 minutes on your Email ID. But it may take up to 1 hour in case of high load on server. Solution is available in Word or Excel format unless otherwise specified.


If your question is slightly different from the above question, please contact us at info@myassignmentguru.com with your version of question.